Convinient Location for Non-Drivers

[Wild Style]

Originally Posted by fauve

There is no way the OP's mother-in-law will be able to walk a mile with her groceries. That's ridiculous - she would need a car. It's one thing to choose to walk to the beach on a nice day for a mile, and another to have to walk a mile in the summer to pick up a loaf of bread.

As for buying depreciating assets, it is impossible to call a bottom and when it turns around, it will be dramatic. With 4% interest rates here, I expect the bottom to be very soon. Many people are sitting on the sidelines with cash waiting to get back in. Hollywood is one of those rare areas that is village-y, artsy and hip without being pretentious. It also has the beach and broadwalk. Fort Lauderdale's beach is boring. Las Olas is much more upscale and has a different vibe. If you wanted to be able to walk to a shop that sells antique oriental rugs from your $400,000 condo, Las Olas is for you. It might work if you could do it without a car and the housing budget was high. Under a mile to a grocery store just doesnt cut it in this case.

It didn't help Hollyood that it hit its development height in 2006. It will help when the market rebounds because everything is already built. As it stands, it's still a destination for the weekends. Friday and Saturday nights are a lot more interesting there than Las Olas.

1. you dont read so well, no one said the stores are a mile

2. cant call a bottom? Only people who cant call a bottom are those who don't understand economics. You should go research what happened last time, to understand the situation

3. 4% has nothing to do with when a bottom will be reached.

Do research the information is out there.

There are condos in downtown for 135,000 for a three bedroom. Saw one the other day, again research, the info is out there.

Either way, I will leave you to it.

Best of luck with your search OP.

[fauve]

lol...wow, you should be in DC helping Geithner with the economy since you're such an expert.

There's a reason why it's called a "buyer's" market. You go in with cash while prices are falling and sellers need to sell. That's just how investing in real estate works. And, why I bought in Miami Beach in 1989. I learned this lesson in NYC buying a studio at the top of the market. It's actually a bit similar t the stock market.

Today existing home sales were up. If you look at the Dow today, you'll see it was up 500 points in part on that news. If you wait till there's a crowd, you'll pay more. See Warren Buffett quote:

"We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful"


As for stores being a mile, here's what you said:

Sailboat bend has a publix not even 1 mile away on Andrews in Downtown Fort Lauderdale, From Hammock bend its probably 1.5 miles. From Flagler village you have a Publix that is on the corner of federal highway and sunrise and that's under a mile.

The Publix in downtown Hollywood is right downstairs from The Radius. The OP's Mom sounds older and a long walk for groceries is going to be a strong negative.

[kevinkagy]

Have you considered Downtown Miami? There's major parks there, theatres, great public transit (Metro), supermarkets, restaurants, Biscayne Bay, pharmacies, stores, hospitals (you've got some of the best hospitals in the country 2 Metro stations away), etc. etc. I highly suggest you look into Loft Downtown and Loft 2. They're both buildings that don't have parking, and thus are cheaper, but are in a great location. If you're going to look into Downtown Hollywood, there's no reason you shouldn't look into Downtown Miami. Best of luck!